tRex88
Short

RELIANCE intraday trade

NSE:RELIANCE   RELIANCE INDS
Short RELIANCE below 1262
Looking for opportunity in the direction of trend

T1: 1240
T2: 1225

SL: 1279
May 10
Trade active: .
made a low of 1246+ so far
May 10
Trade closed manually: Position auto squared off by broker at 1246.75 (profit of 15.25 points)
i made profit on the buy side and u got it short side.. volatility.. good call
+1 Reply
tRex88 mklives
@mklives, cheers... May I know how many points profit on the buy side and risk taken?
Reply
@tRex88, got it yday at days low 1253 and exited at 1273
+1 Reply
tRex88 mklives
@mklives, thats nice
Reply
@tRex88, learnt something from you today about trend and divergence.. thank u for the info
+1 Reply
tRex88 mklives
@mklives, Welcome :)
+1 Reply
@tRex88, cash levels mentioned
+1 Reply
forming positive divergence.. isnt it?
+1 Reply
tRex88 mklives
@mklives, yes. Ignoring it as the trend on higher tf (hourly in case of intraday) is down. Golden rule of reading oscillator signals is to first see the trend direction and then read the oscillator signal in conjunction with the trend direction.
+1 Reply
tRex88 mklives
@mklives, i usually consider divergences only after the price has made a significant move in the counter trend direction. eg: price consolidation for a long duration and a range breakout OR when a major trendline breaks out OR H&S breaks out OR when a major swing point is taken down (all with supporting volume) when accompanied with divergence signals are more meaningful. Price action/chart pattern is the main course, indicators/oscillators are pickles in the meal (because all the indicators are derived from price and volume)
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out